Finance & DevelopmentCoStar: U.S. Hotel Performance Increases From Previous Week

CoStar: U.S. Hotel Performance Increases From Previous Week

WASHINGTON—U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through Feb. 17, 2024.

U.S. Hotel Performance

February 11-17, 2024

Percentage change from comparable week in 2023:
Occupancy: 59.2 percent (down 2.5 percent)
ADR: $162.24 (up 4.2 percent)
RevPAR: $96.10 (up 1.6 percent)

Among the Top 25 Markets, Boston (up 14.6 percent to 64.7 percent) and New Orleans (up 14.6 percent to 75.7 percent) matched for the largest increase in occupancy. Mardi Gras drove New Orleans’ occupancy increase.

Thanks to Super Bowl LVIII, Las Vegas reported the highest jumps in ADR (up 76.7 percent to $318.88) and RevPAR (up 81.4 percent to $257.72). Weekly occupancy grew 2.7 percent to 80.8 percent. On Sunday night, Las Vegas’ occupancy topped 80 percent, and ADR reached higher than $800.

Phoenix reported the steepest RevPAR decline (down 21.6 percent to $173.63) because of comparison to its Super Bowl host period last year.